Bitcoin Forum

After disrupting the telecom sector with its free offers and hyper-competitive tariffs, Reliance Jio Infocomm Ltd plans to create its own cyptocurrency, JioCoin.

With Mukesh Ambani’s elder son Akash Ambani leading the JioCoin project, Reliance Jio plans to build a 50-member team of young professionals to work on blockchain technology, which can also be used to develop applications such as smart contracts and supply chain management logistics.

I wonder what Jaitley has to say about this crypto currency.

http://www.livemint.com/Companies/AzdrYmQhYnq0TPiDUbZcSO/Reliance-Jio-planning-its-own-cryptocurrency-called-JioCoin.html (http://www.livemint.com/Companies/AzdrYmQhYnq0TPiDUbZcSO/Reliance-Jio-planning-its-own-cryptocurrency-called-JioCoin.html)

wht do u think?

you've got too much time on your hands.

edit: just googled as well, you should have posted a link to the article. looks like very early days, they don't even know what to use it for yet.

Damn I just googled after the reading your post. His son is leading this one. At least it will make the crypto popular in India.

The name itself will get the ICO or the coin funded with millions.

This is going to be interesting
Reliance is obviously a big conglomerate, and look at the impact it had on Nucleus Vision.

Will be following closely with its development for sure.

Man , this is great as this will lead the MLM guys to eradicate from India, the Indians will know the true meaning and use of cryptocurrencies!
Good news for a India and Indian people but also need to look for the disadvantages as well if any!!!

That's right! A perfect and assured place for investment- huge investors from outside and inside of crypto world shall get in!!

If it is successful, government will ban it.

I have full faith in India's progressive government.  ;D

doesn't make sense at all.

The Reliance conglomerate is pretty much one and the same with the Indian Govt when it comes to policy making and legislation. Its unlikely they would spend resources putting together a 50 person team to study the applications of cryptos and blockchain unless they know there is a future for them for certain in India. In my view, this is a plus for cryptos in India as the current state of no legislation leaves Indian crypto investors wondering when the Govt will come knocking at their door. The Jio coin is a further step towards the Govt eventually having no choice but to come out with sensible regulation and taxation policies for Indian citizens.

Ambani family is a well known multi millionaire industrialist family in india.One of the family member have recently launched successful projects in indian telecom industry named Jio.Now,they are going to launch a coin with that same name as Jiocoin.Definitely it would get famous quickly in india bringing india to the main stream of crypto world.

I've already seen a huge amount of indians shitting this forum (ofc not all of them are that bad but big part of them makes pretty much low quality posts in bad english) and that makes me think that cryptocurrencies are already popular in India.
The Idea of the upcoming coin is not realy uncovered. For now it seems like a big company is going to issue a coin but I don't see why people should use the coin instead of fiat while dealing with this company.

crypto affect on the Ambani's  :D don't know if they are really going to open such project but at least this news will bring about more awareness about cryptocurrencies to the Indians which is a good thing.

Very true. Seems like they just want to raise free funds. The government will interfere for sure.

will it a good investment?

I agree, an excellent way to popularize the technologies of blockchain, but more than that will protect the cellular communication from interference from the state, making it more secure!)

Gys.. I got a site for jiocoin ICO , I have tweeted @jiocare @reliancejio for know about this ICO. But They Don't announce officially about this ICO. What You gys think... This is the website link reliancejioico.com  (http://reliancejioico.com)

As per the information provided on the site of the Jio coin about their launch of cryptocurrency, they requested to not to believe in any other fake sites or sources for more Information about Jio Coin. They Promise if there is any update about Jio Coin, they will be the first to Inform public about Jio coin.

Jio has made a 50 member team of professionals who are working hard for Jio Coin ICO. The team is lead by Akash Ambani. Therefore there is no Official Date announced for JioCoin ICO.

The Team is working on various Blockchain products so it will take time.

Several articles has started to give news regarding the same. In particular reliance is one among the top list of billionaires in the world. An initiative related to cryptocurrency from such people will surely lead to a progressive growth in the concern Country. In this regard India will progress in digital currency usage, so the recent news from the government doesn't seem to be a big controversy.